Memecoins Outclassed by Major Tokens: BONK Losing the Grip, WIF, FLOKI, & BOME Prices Plunge!

Memecoins Outclassed by Major Tokens: BONK's Grip Wanes, WIF, FLOKI, & BOME Prices Dip

As the crypto market recovers, Bitcoin's surge above $59,000 has led to a significant decline in memecoin volumes, raising questions about the sustainability of the recent memecoin craze.

FLOKI Price Consolidation Within Range

FLOKI's price has repeatedly found support at a crucial zone, triggering rebounds in the past. However, the recent rebound lacked momentum, leaving the price vulnerable to bearish pressures below $0.0002. A further decline to $0.00017, a key reversal point, is likely.

WIF Price Faces Range-Bound Trading

dogwifhat (WIF) breached its support zone and failed to recover, indicating bearish dominance. A bearish crossover on its Directional Movement Index (DMI) suggests further price drops.

BONK and Pepe Struggling

Despite efforts to regain momentum, BONK and Pepe prices face resistance and struggle to maintain crucial support levels. The influx of volume into Bitcoin and Ethereum overshadows memecoins.

Conclusion

Major tokens appear to be outperforming memecoins as the market recovers. Continued consolidation or a potential pullback may indicate a cooling of the memecoin frenzy.